Babcock & Wilcox Q3 Profit Rises; Narrows FY13 Adj. EPS Outlook - Quick Facts

(RTTNews) - The Babcock & Wilcox Co. (BWC) Tuesday reported third-quarter net income attributable to the company of $60.4 million, or $0.54 per share, compared to $51.4 million, or $0.43 per share in the same period last year.

Adjusted net income for the quarter was $63.6 million, or $0.57 per share, up from $54.7 million, or $0.46 per share in the prior year quarter.

On average, nine analysts polled by Thomson Reuters expected the company to earn $0.55 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues declined to $774.83 million from $807.59 million last year, while ten analysts expected revenues of $851.45 million.

The company narrowed the range of expectations for adjusted earnings per share for the full year 2013 to between $2.30 and $2.40, from the previous range of $2.25 to $2.45. Analysts currently expect full year earnings of $2.33 per share.

The company expects 2013 consolidated revenues to be approximately $3.3 billion, down from the previous guidance of $3.4 billion to $3.5 billion. Analysts now expect the company to report full-year revenues of $3.43 billion.